Gas Prices Surge Again

AAA: Florida Gas Prices Jumped 18 Cents Last Week

TAMPA, FL — Florida gas prices increased 18 cents per gallon in the final days leading up to Independence Day, last week. Florida drivers wound up paying an average price of $3.53 per gallon on July 4th. That was 27 cents per gallon more than what drivers paid on Independence Day last year, yet still much less than the average price in 2022 ($4.54/g).

“Florida drivers are now paying the most expensive gas prices in nearly two months,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Fuel prices face continued upward pressure on concerns about Tropical Storm Beryl, and economic data suggesting that the U.S. Federal Reserve could lower interest rates to boost growth.”

As of this writing, Tropical Storm Beryl was tracking toward the Texas coastline. The Gulf Coast is home to nearly half of the fuel refining capacity in the United States. The majority of Florida’s gasoline supply sails into the state from this region, which includes Texas, Louisiana and Mississippi. Initial reports from our partner at OPIS is that Beryl is not expected to cause significant disruptions to U.S. offshore oil-and-gas production. However, the full extent of Beryl’s impact on the fuel supply chain and prices will not be fully realized until several days after the storm passes.